DUBLIN, June 17, 2020 /PRNewswire/ -- The "5G Services Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
The global 5G services market is expected to grow from $49.7 billion in 2019 to about $68.6 billion in 2020 as the demand for high-speed and better quality data services is increasing as people are staying indoors and spending more time on the internet for work as well as leisure purposes. The market is expected to stabilize and reach $128.1 billion at a CAGR of 26.7% through 2023. Asia-Pacific was the largest region in the 5g services market in 2019.
Rising demand from the Internet of Things (IoT) is anticipated to contribute to higher demand for 5G services in order to deliver high performance and efficiency. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the global market revenue for the Internet of Things (IoT) is projected to reach $ 1.1 trillion by the end of 2025. The IoT connections across the globe are expected to increase from 7 billion in 2017 to 25 billion by 2025, growing at a CAGR of 17% during the forecast period. Therefore, growing demand for IoT and the requirement to connect smart devices with high-speed internet boost the revenue for the 5G services market over the forthcoming years.
The introduction of AI-powered services is a major trend shaping the growth of the 5G services market. The commercial usage of 5G services is expanding rapidly. The growth in the number of connections and cloud-based AR or VR is generating higher demand for 5G services with greater bandwidth, wide-coverage, and low latency networks. In 2016, Huawei started applying AI to technical work and business processes to serve its customers and as of 2019, Huawei provided more than 580,000 cases of technical support on more than 1,700 networks across the globe. Therefore, the introduction of AI in 5G services in order to increase the accuracy and agileness is to act as a major trend for 5G services market.
The high cost of 5G smartphones and related devices is expected to limit the growth of the 5G services market in the coming years. According to executives of leading companies such as Xiaomi, Samsung and OnePlus in January 2020, the price of 5G smartphone chipsets is twice as costly as the price of 4G smartphone chipsets. Consequently, expensive parts result in a high cost of production leading to higher prices of 5G smartphones. This scenario is anticipated to adversely impact the growth of the 5G Services market over the forecast period.
Major players in the 5G services market are AT&T, Verizon Communications, Inc., China Mobile, Vodafone, Telstra, China Telecom, Deutsche Telecom, SK Telecom, Saudi Telecom Company, and T-Mobile USA Inc.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider 5G services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The 5g services market section of the report gives context. It compares the 5g services market with other segments of the 5g services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, 5g services indicators comparison.
Key Topics Covered
1. Executive Summary
2. 5G Services Market Characteristics
3. 5G Services Market Size And Growth
3.1. Global 5G Services Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global 5G Services Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. 5G Services Market Segmentation
4.1. Global 5G Services Market, Segmentation By Communication Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Fixed Wireless Access (FWA)
- Enhanced Mobile Broadband (eMBB)
- Ultra-Reliable and Low Latency Communications (uRLLC)
- Massive Machine-Type Communications (mMTC)
4.2. Global 5G Services Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Energy & Utilities
- Media & Entertainment
- IT & Telecom
- Transportation & Logistics
5. 5G Services Market Regional And Country Analysis
5.1. Global 5G Services Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global 5G Services Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Alcatel-Lucent S.A.
- Bharti Airtel Limited
- BT Group
- China Mobile
- China Telecom
- Deutsche Telecom
- Korea Telecom
- Nokia Siemens Networks
- Orange S.A.
- Qualcomm Inc.
- Saudi Telecom Company
- SK Telecom
- T-Mobile USA Inc.
- Telecom Italia
- Verizon Communications, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sr6j5f
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